India to launch GST lottery
- Dec 9, 2019 | Richard Asquith
India’s Ministry of Finance has proposed plans to launch a Goods & Services Tax lottery, based on valid receipts consumers receive for their purchases. The aim is to encourage all transactions to be properly electronically declared to the tax authorities to reduce tax avoidance.
Consumers who ensure they are given a tax receipt for their purchases will be able to upload them online into the GST tax portal. This will capture the seller and transaction details to match with their submitted GST invoice declarations and returns.
GST receipt lotteries will be held on a daily and monthly basis. Cash prizes will be based on a multiple of up to five times the GST value on their invoice.